Bank Rates Move Sideways November 29, 2010

Nov. 29, 2010 - PRLog -- Selectcdrates.com recently released their weekly survey of bank savings rates and lending rates for the week ending November 26, 2010.  The Selectcdrates.com weekly survey covers bank savings rates and bank lending rates in several categories of bank savings and loan products.

A summary of the weekly bank rate survey indicated that most bank savings products including CD interest rates and money market rates remained in a narrow range for the week while mortgage rates increased quite considerably.  Short term CD interest rates were predominantly unchanged on the week as were savings account rates and money market account rates.  Mid range CD rates fell modestly while long term bank CD rates moved in the opposite direction ticked up moderately.  

On the lending side, new offers on credit card rates remained in check while both short term and long term mortgage rates increased.  The average 15 year mortgage was up by four basis points or 4/100 of a percent while the 30 year was higher by ten basis points.

The Selectcdrates.com composite CD interest rate index held at1.472 percent.
3 month CD rates were unchanged at 0.75 percent
6 month CD rates remained steadfast at 1.09 percent
1 year CD rates were also unaltered at 1.35 percent
2 year bank CD rates were down by two basis points to 1.64 percent
5 year CD rates increased one basis point to close at 2.52 percent
Bank money market rates and savings account rates were unaltered with an average yield of 1.25 percent
30 year mortgage rates from the top ten banks ended at 4.643 percent
15 year mortgage rates pushed up to 3.975 percent
Credit card rates held at 13.74 percent

All bank rates in the weekly survey are based on data collected by Selectcdrates.com at the close of November 26th, 2010.   For more information on current CD rates, mortgage rates, credit card offers and savings see http://www.selectcdrates.com.  Information regarding bank deals and promotions can be found directly at http://www.selectcdrates.com/bank-deals.

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SelectRates Media, Inc. of Naperville Illinois owns and operates http://www.bestcreditcardrates.com along with http://www.selectCDrates.com, http://www.selectautorates.com, http://www.findlocalmortgagerates.com and http://www.selectcalculators.com.